Business & Finance
Rumours of $100 oil return as crude recovers from Covid grip
While the oil price collapse is still fresh in our minds, rumours are starting to emerge that by the end of next year prices could once again top $100 a barrel.
NEO Energy snaps up ExxonMobil’s North Sea assets for over $1bn
HitecVision-backed NEO Energy is acquiring a major portfolio of non-operated oil and gas assets in the Central and Northern North Sea from ExxonMobil.
Forum widens fourth-quarter loss
Forum Energy Technologies has seen its loss widened in the fourth quarter 2020 on asset impairments and restructuring costs as well as revenue drop of some 44 per cent. The Houston-based energy sector products company recorded Q4 2020 loss of $32.7 million, or $5.85 per diluted share. This result co
KKR takes stake in Hyundai Global Service
The US-based investment firm KKR has decided to acquire a 38 per cent stake in South Korean marine services provider Hyundai Global Service (HGS).
Petronas hits oil offshore Indonesia
Petronas has made an oil discovery at the Hidayah-1 exploration well, located within the North Madura II Production Sharing Contract, offshore Indonesia.
Petrobras board calls extraordinary meeting to remove CEO
The board of Brazilian state-run oil company Petrobras called an extraordinary shareholders’ meeting in a move which will all but ensure the replacement of the company’s CEO.
Rauma shipyard shuts down production after over 230 coronavirus infections
Finland-based shipbuilder Rauma Marine Constructions has shut down production after 239 workers tested positive for coronavirus. According to the City of Rauma, a total of 1,000 people have been tested. It appears that the main factor that contributed to the widespread of infections were the shared
Occidental: Low-carbon business earnings could match oil
The chief executive of U.S. oil company Occidental Petroleum has stated that the company’s low-carbon business would generate earnings equal to its oil and gas production business in the coming decades.
Lamprell wins Marjan field job from Saudi Aramco
Lamprell has been awarded an engineering, procurement, construction, and installation contract by Saudi Aramco as part of the long-term agreement programme.
Masirah Oil spuds exploration well off Oman
Oil and gas company Masirah Oil has spudded the Zakhera 1 well, located offshore Oman, using the Shelf Drilling-owned Tenacious jack-up rig.
PTTEP, Petronas discover gas off Malaysia
PTTEP and Petronas have made a gas discovery from Dokong-1 wildcat well in Block SK417, located in the shallow waters of Baram Province offshore Malaysia.
Enagás shortens zero-emissions target by 10 years
Spanish LNG terminal operator Enagás has brought forward its decarbonisation plans.
Sembcorp Marine books loss and expects trend to continue
Singapore’s offshore builder Sembcorp Marine expects losses to continue after reporting a higher net loss in FY2020 compared to FY2019.
Samsung Heavy settles Brazil corruption investigation for $149 million
South Korean shipbuilder Samsung Heavy Industries has agreed to pay a settlement in a leniency deal with authorities of Brazil to settle a corruption investigation.